Relax Over Seeking Meaning In Friday's Correction

Friday, sharp volatility struck and turned a slightly positive week negative, as the S&P 500 and MSCI World fell -2.6% and -2.2%, respectively.[i] It was both indexes’ sharpest negative day in eight months—and pushed the S&P 500 to its first weekly decline since the end of March. Headlines and pundits were, predictably, on the hunt—what drove the drop? In our view, though, it really highlights the basic truth that volatility can strike anytime, anywhere, for any or no reason at all. Overthinking a single day’s swings risks leaping to premature conclusions. Read Full Article »